Barclays Cuts Everest Group (NYSE:EG) Price Target to $499.00

Everest Group (NYSE:EG) had its price target cut by stock analysts at Barclays from $517.00 to $499.00 in a report issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s target price suggests a potential upside of 34.52% from the company’s previous close.

A number of other equities analysts have also commented on the stock. UBS Group raised shares of Everest Group to a “hold” rating in a report on Wednesday, October 9th. Wells Fargo & Company lowered their price target on Everest Group from $402.00 to $390.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 4th. Jefferies Financial Group cut Everest Group from a “buy” rating to a “hold” rating and upped their price objective for the stock from $420.00 to $429.00 in a report on Tuesday, November 26th. BMO Capital Markets dropped their target price on Everest Group from $383.00 to $372.00 and set a “market perform” rating for the company in a research report on Thursday, November 14th. Finally, TD Cowen reduced their price target on shares of Everest Group from $444.00 to $419.00 and set a “hold” rating on the stock in a research report on Monday, November 18th. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $428.00.

Everest Group Stock Up 2.6 %

EG stock opened at $370.96 on Monday. The company’s 50 day moving average is $368.03 and its 200 day moving average is $377.35. The stock has a market cap of $15.94 billion, a price-to-earnings ratio of 5.81, a price-to-earnings-growth ratio of 2.69 and a beta of 0.65. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.22. Everest Group has a 1-year low of $343.76 and a 1-year high of $407.30.

Insider Buying and Selling

In other news, COO James Allan Williamson sold 200 shares of the firm’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $370.00, for a total value of $74,000.00. Following the completion of the sale, the chief operating officer now directly owns 15,009 shares of the company’s stock, valued at approximately $5,553,330. This trade represents a 1.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Mike Karmilowicz sold 269 shares of Everest Group stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $348.48, for a total transaction of $93,741.12. Following the sale, the executive vice president now directly owns 12,726 shares in the company, valued at $4,434,756.48. The trade was a 2.07 % decrease in their position. The disclosure for this sale can be found here. 1.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC lifted its position in Everest Group by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,155,760 shares of the company’s stock valued at $453,818,000 after acquiring an additional 16,180 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Everest Group by 1.8% during the second quarter. AQR Capital Management LLC now owns 1,032,479 shares of the company’s stock valued at $393,395,000 after purchasing an additional 17,885 shares during the last quarter. William Blair Investment Management LLC boosted its position in shares of Everest Group by 30.2% in the 2nd quarter. William Blair Investment Management LLC now owns 580,171 shares of the company’s stock worth $221,057,000 after purchasing an additional 134,517 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Everest Group by 7.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 535,121 shares of the company’s stock worth $203,891,000 after buying an additional 38,254 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in Everest Group by 6.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 490,691 shares of the company’s stock valued at $192,267,000 after buying an additional 30,458 shares in the last quarter. Hedge funds and other institutional investors own 92.64% of the company’s stock.

About Everest Group

Everest Group, Ltd., through its subsidiaries, provides reinsurance and insurance products in the United States, Europe, and internationally. The company operates through two segment, Insurance and Reinsurance. The Reinsurance segment writes property and casualty reinsurance; and specialty lines of business through reinsurance brokers, as well as directly with ceding companies in the United States, Bermuda, Ireland, Canada, Singapore, Switzerland, and the United Kingdom.